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CNBC
Jan 29, 2010 3:00pm EST
what every bank in america wants to be in. they're the only one. >> jim, good to see you again. >> good to see you, partner. >> thank you very much. watch the show 6:00 and 11:00 eastern tonight. that's it for "street signs." thank you very much for watching. "closing bell" begins in just a moment with an all-star cast from here, davos, and indeed cnbc's global headquarters. from this team thank you for watching. stay tuned for the big one. >>> history or hype? is the month of january really a good predictor of stock market performance and what should investors do based on this month's trade? live from the new york stock exchange, this is the final and most important hour of the trading day. >>> and good afternoon, everybody. welcome to the "closing bell." iful scott wapner live here on the floor the new york stock exchange. michelle? >> hi, scott, i am michelle caruso-cabrera at the cnbc global headquarters. ge is wrapping up on a downnote. as january goes, so goes the rest of the year. but here's some contradictory stats that might help you out. put your mind at ease, since 1
CNBC
Jan 11, 2010 3:00pm EST
america. basically, now the s.e.c. is asking to add new charges to the lawsuit dispute with the bank of america regarding merrill lynch's extraordinary losses, not being disclosed in time before the shareholders to act on the vote of the takeover. last august the s.e.c. sued bank of america per not disclosing to shareholder voting on the takeover that it intended to pay more than $3 billion in bonuses to merrill lynch employees. that they had a settlement, it was thrown out. a new trial is scheduled to begin on march 1st. bank of america, in a response to this latest request by the s.e.c., calls it an 11th-hour move, and says it will hinder its ability to prepare a defense in time for that march 1st trial. maria. >> all right, hampton, thanks very much for the angle on that. >>> meanwhile, we've got breaking news today and we will have it for the next several weeks in terms of earnings news coming out, alcoa kicking off the earnings period for the fourth quarter after the close tonight. we're waiting on that report, that of course is a dow component. will the fourth quarter earnings
CNBC
Jan 26, 2010 3:00pm EST
bank of america. the parent company of this network, general electric having a good day regions financial and ford to the downside. you are watching cnbc, first in business worldwide. thought investment firms were there tdd# 1-800-345-2550 to help with my investments. tdd# 1-800-345-2550 so where's that help when i need it? tdd# 1-800-345-2550 if i could change one thing... tdd# 1-800-345-2550 we'd all get a ton of great advice tdd# 1-800-345-2550 just for being a client. tdd# 1-800-345-2550 i mean, shouldn't i be able to talk about my money tdd# 1-800-345-2550 without it costing me a fortune? tdd# 1-800-345-2550 if i had my way, investment firms would be tdd# 1-800-345-2550 falling all over themselves to help me with my investments. tdd# 1-800-345-2550 (announcer) at schwab investors rule. tdd# 1-800-345-2550 are you ready to rule? tdd# 1-800-345-2550 tak widelydring esowa mal wre aeleb seisllo better o statem contie we.haen >>s.yof n isnsng aimed urthatls't u dot raen out the. is ian liqsparent ely dy bei ctel maner ou es rarord mual a eyet re n >> tnkso co ind q 75naaqwi ofge
CNBC
Jan 14, 2010 3:00pm EST
new york stock exchange today led by citigroup, bank of america. see how they are rising despite that announcement from president obama. ♪ [ male announcer ] introducing the all-new lexus gx. ♪ it has the agility to avoid the unexpected... ♪ ...the power to take on any mission, and the space to accommodate precious cargo, because every great action hero needs a vehicle. ♪ >>> in 44 minutes we kick off the fourth quarter earnings season, big time with intel. to take a look at what we can expect, let's crossover to jim goldman in los angeles. jim? >> reporter: hey, simon, good afternoon to you, indeed intel is the key tech bellwether. 30 cents a share, about $10 billion in revenue expected for this company. both figures up dramatically, year over year. the real question, of course, is what intel has to say as far as guidance is concerned. so many trends going this company's way, no question, with the likes of netbook and consumer pc spending, not to mention the enterprise finally jumping on board with the windows 7, operating system upgrades cycle. but keep in mind as intel
CNBC
Jan 28, 2010 3:00pm EST
interesting to invest money. the two principle areas now are in the united states, canada, north america and in asia. so both of those areas present a lot of very interesting opportunities. >> reporter: and when you're looking -- when you're on the ground in asia, where -- >> the senate is on time, 3:20, they are beginning this procedural vote. it's a cloture vote. i'm showing you microsoft as well because they're going to report earnings after the bell. there is the live picture of the senate chamber where we are -- they are indeed going to begin the cloture vote when it comes to ben bernanke retaining his position as head of the central bank. once again we have a tally from the reuters, where they say right now there's 51 who say yes. 23 no. 26 undecided. we've got to get to 60. that's the key number. once that happens, that ends cloture. that's the cloture vote. then we can go onto the actual confirmation vote. this has been far stickier than would had been anticipated even a year ago and in fact, we gathered votes on paul volcker's vote the second time he was voted in when he was und
CNBC
Jan 7, 2010 3:00pm EST
states chief technology officer, anesh chopra about the obama's efforts to keep america ahead when it comes to innovation. but first, let's check out what investors are gearing up for as we enter the important employment report part of the month. we're getting those numbers tomorrow. simon hobbs is at the new york stock exchange looking at that angle. hi, simon. >> reporter: hello, maria, looking good there. it is amazing. a lot of people are suggesting that this is the year of stock picking and boy pick the stocks like ge, up over 6%, courtesy of jpmorgan. bank of america up over 4%, courtesy of credit suisse. it's market wants to rally where it sees opportunities. general dynamic awaiting the employment report tomorrow. don't need ne tell you about it. everyone is talking about it. the latest from reuters consensus is no change on that december report tomorrow. we thought we'd get on average on a consensus estimate a loss of 8,000. later in the program we will talk to one of the most upbeat people within wall street who believes you could actually get a gain of 100,000. take you thr
CNBC
Jan 15, 2010 3:00pm EST
jpmorgan chart. look at bank of america, citigroup, a similar story. capital one talking about rising write-offs. commodities weaker. dollar's higher today. gold stocks, steel stockancy,i% stocks are all lower today p and chips, really an interesting story. walk around here take a look at what texas instruments is doing today and that stock's under a bit of pressure as well. you've seen some of the other chip names. the semiconductor index, for example, is weak today. the nasdaq's having a tough go of it as well. my eye on fertilizer today as cmf tec m cmf terminate it's offer. and potash, the price target was raised over at rbc. let's talk about some of the positive stories that we've been following today. office max is one of them in fact the office supply companies are very much in focus, and i was there this morning when the stock opened. that being officemax. overweight to neutral on modestly improved labor markets. we also watches office depot and staples have a pretty decent day as well. upgrade, schlumberger got one, raised from buy to hold at jeffries. kellogg upgraded as wel
CNBC
Jan 21, 2010 3:00pm EST
this area. one of the things banks still have problems with their balance sheet. bank of america came out yesterday still wrote off $5 billion. we don't think that's done. they say maybe by the end of the year. there is still trouble with banks. the last thing the major banks need is to have the government interfering in their ability to get healthy again. the whole plan a year ago was to give them the money to rebuild their balance sheet and let their system -- let their business model work. and now we're going to restrict them from taking risk, package in risk, which is certainly what the investments banks do best. >> there is a broader impact, you know? because you're not necessarily talking about the banking sector, because if in fact they do face these increased pressures, they're going to lend less. they are going to pass some these fees onto the consumeir. so things get tougher for the broad economy. now your analyst downgraded materials and some other economically sensitive groups. what was that call about? >> that was actually a strategy call at s&p yesterday. we downgraded m
CNBC
Jan 4, 2010 3:00pm EST
. a dogfight to the finish between boeing and bank of america. leading the dow for the highest percentage gain of the day. for the big 2010 new year, boeing at last check. the leader but it is closed, folks. depending on the tick. both stocks having about a 4% move here today. focused on boeing right now with a big move. double the performance of the dow today. and pretty heavy volume as well. it's interesting if you take a look at what boeing is doing, it's not only a 52-week high, it's the highest levels that we've seen for this stock since october of 2008. on a closing level, folk, 5656 is the interday high. we may and probably will not get to that technical breakthrough point, but on a closing basis, it would be a new closing high for the year -- well, for the 12 months. bob, i can't get my head around this whole calendar thing from boeing. back to you. >> thanks very much, matthew. take a look at some of the more widely traded stocks are faring. unt financials have had a great day. they've been the market leader here and of course citigroup among the most active trading. m
CNBC
Jan 8, 2010 3:00pm EST
america gain the lead when it comes to clean energy. it's clear why such an effort is so important. building a robust clean energy sector is how we will create the jobs of the future, jobs that pay well, and can't be outsourced. but it's also how we will reduce our dangerous dependents on foreign oil, a dependents that endangers our economy and our security. and it is how we will combat the threat of climate change and leave our children a planet that's safer than the one we inherited. harnessing new forms of energy will be one of the defining challenges of the 21st century, and unfortunately right now, the united states, the nation that pioneered the use of clean energy, is being outpaced by nations around the world. it's china that has launched the largest effort in history to make their economy energy efficient. we spearheaded the development of solar technology, but we fallen behind countries, like germany and japan, in producing it. and in almost all of the batteries that we used to power our hybrid cars are manufactured in asia. though the steps like the one that we're taking
CNBC
Jan 22, 2010 3:00pm EST
little disappoint png here are the financial, morgan stanley, of course bank of america, all down 6%, 7%, 8% on the week here. american express had their earnings out, that's not helping them today, look at that, down 8%. capital one also down noticeably and then you've got the earnings situation. other stocks. schlumberger had their earnings out, a few days, for schlumberger. the bottom line is they're charging lower prices for their oil services and of course their margins are under pressure. stocks are selling today on the earnings report. and then you have the tech situation, which is a very difficult time right now, because they all ran up ahead of earnings season but they're not doing that well. you've got citigroup coming out, downgreeding the whole semiconductor capital equipment group, so amat, teradyne, that group is all under pressure right now. let's go to rick santelli standing by in chicago. enough for you to digest there, rickster? >> reporter: i asked everyone around me what the word of the week was, and the word of the week was, unanimous, confusion. that an uncertainty
CNBC
Jan 20, 2010 3:00pm EST
, however, is under some selling pressure after north america sales trailed. i'm joined exclusivee by the chairman and ceo with lew frankfort. the company reports that three cents better than analyst's expectations, actually, revenue up nearly 11% for the sales part of the business. what went right last quarter? can you characterize the last three months for us. >> i think everything went right. we actually put into place a whole series of initiatives. new collections, such as poppy. a rebalance assortment but more compelling price points. acceleration of openings in china and on our supply chain was able to deliver with a lower cost. so overall we had a very strong quarter. >> so why do you think the stock is under such pressure today? people are talking about north america sales in the second quarter trailing some expectations. was north america weaker in some parts of the world in your view. >> around the country grew 11%. and overall growth in our coach stores grew 16%. so we feel really terrific about the reinvigoration of our north america sales and we actually achieved about
CNBC
Jan 27, 2010 3:00pm EST
be the next treasury secretary of the united states of america. this was the guy who was the indispensable man. the guy we had to have in spite of the fact he didn't pay his taxes, in spite of all, he was the guy we there to have, he's so important and yet he's not there exercising the influence in how this information was disclosed and he wouldn't answer the question. did he think that the folks at the fed, who suppose lead did make this decision to hold off in disclosure, he wouldn't even say whether he supported their decision or not. he backarg way from that completely. this is the treasury secretary of the united states, he didn't pass his smell test. >> what do you think should have been done as a result of that? do you think that he should stay in his position. >> i think that the american people will weigh in on that decision and obviously it's up to the president of the united states and i don't think that he helped himself out at. we had secretary paulson in front committee too. he sold to congress when this whole thing started that this the t.a.r.p. program was to
CNBC
Jan 12, 2010 3:00pm EST
of 2009 and they are leading to the downside today. bank of america being sued by the s.e.c. over disclosures at the merrill lynch deal. aetna reaffirming their '09 forecast but they see 2010 earnings modestly lower than 2009. that is when the market seemed to take another leg to the downside after the lunch hour. so aetna a drag on the market today. how about kb homes saying they are not going to make any money in the first quarter. the hartford, one of the positive stories. tiffany says global holiday sales up 17%. they raised the outlook. stock was down. part of the reason to that, stock has been up 108% over the past year. so those are the big stories here at the new york stock exchange, technology, another sector that is dragging the major averaging down. our team is covering the markets, on that tech note we send it to matt nesto at the nasdaq. >> we call it post ts, times square. if you look at the nasdaq here today we are close to our low of the session down 1.4%, down for the fourth time in five sessions. big cap tech, intel reporting later this week, thursday afternoon,
CNBC
Jan 13, 2010 3:00pm EST
america and ford. you're watching cnbc, first in business world wide. @@@@@@ >>> welcome back. let's take a look at the business headlines of the day as our psi touched on earlier, the federal reserve, december beige book report, showing continued economic improvement across the united states. ten of the 12 fed's districts improving conditions. that's up from the eight districts showing signs of the recovery from the last report. >>> overall manufactures are optimistic. labor market showed continue signs of weakness. >>> the deficit grew by nearly $92 billion for the month. that's up nearly $30 billion from last year and marks a december record. it is the 15th consecutive month the deficit continued to grow. also another record. >>> bank of america cut the cash portion of its bonuses to its banker. the remainder of the bonus will be linked to the bank's stock performance. >>> overseas' investors are seeing strength out of japan this new year. take a look at chart. the topics, clearly outperform think the s&p 500 so far. up 4% against two for the american market, i have to say to you
CNBC
Jan 25, 2010 3:00pm EST
of financials -- they're always up there citigroup, bank of america. the parent of this network is higher and jpmorgan chase at the bottom. tdd# 1-800-345-2550 to help with my investments. tdd# 1-800-345-2550 so where's that help when i need it? tdd# 1-800-345-2550 if i could change one thing... tdd# 1-800-345-2550 we'd all get a ton of great advice tdd# 1-800-345-2550 just for being a client. tdd# 1-800-345-2550 i mean, shouldn't i be able to talk about my money tdd# 1-800-345-2550 without it costing me a fortune? tdd# 1-800-345-2550 if i had my way, investment firms would be tdd# 1-800-345-2550 falling all over themselves to help me with my investments. tdd# 1-800-345-2550 (announcer) at schwab investors rule. tdd# 1-800-345-2550 are you ready to rule? >>> take a look now at today's research calls. the latest upgrades and downgrades. international exchange upgraded from buy to hold by deutsche bank which is also raising its price target on the stock to $113 from $108 to reflect strong volume trends. continental airlines upgraded to buy to sell in august. expectations that flight
CNBC
Jan 5, 2010 3:00pm EST
stock exchange led by citigroup, bank of america, ford, great sales numbers out of ford, motorola and sprint nextel. you are watching cnbc, first in business worldwide. fidelity, traders learn from the pros. say you want to backtest an entire portfolio of stocks. market experts show you how through fidelity's extensive trading knowledge center. and fidelity gives you free research from 15 independent firms, with accuracy scores... to help you decide which analysts to trust. find out why more and more active traders are turning to fidelity for a smarter way to trade online. trade like a pro. trade with fidelity. and fedex ground will get it there fast. wait. fedex has ground shipping? oh, that's right. you just woke up from a 23-year coma. yeah, it was a long one. did i miss anything? uh, the cold war ended. [ man ] pluto's no longer a planet. culture club broke up. the berlin wall came down. wait. the club broke up? i never saw them live. that was too soon. what have i done? [ male announcer ] we understand. you need it there fast. fedex ground. it's delicious. so now we've turned her
CNBC
Jan 6, 2010 3:00pm EST
like a 16-month high. oil gas prices heating up with the bill chill across north america. bring in bart melik, he's global market strategist at bmo capital markets. good to have you this afternoon. >> great to be here. >> talk about this big run that commodities are having especially in the metals space. is there still money to be made? that's the real question. >> i certainly think there is. some of them will perform better than others. i think precious metals are still on. the u.s. dollar continues to be in worrisome over the longer run. i think that market is going to continue to be quite concern of a potential inflation down the road especially since the federal reserve continues to signal that it's not in any hurry to tighten monetary policy. but you know among the precious metals i think the platinum group metals, the so-called pgms, do quite well. >> look at this chart right now. you've got one-year, platinum is up, what, 60% as i look at the chart there. the chart's going straight up. so not in danger as investors of getting in at a possible top, are we? >> i don't think. n
CNBC
Jan 19, 2010 3:00pm EST
haiti is pouring in. corporations in america are opening their wallets in a big way. here for the latest figures, gerald mcswiggin manages the disaster program at the u.s. chamber of commerce. thanks for joining us. where now do you stand? >> thank you, simon. right now businesses have come up huge very quickly after the disaster. and right now we are seeing 203 companies have donated more than $83 million to the relief efforts so far. this includes 36 companies that have given $1 million or more that includes abbott, citigroup, glaxo smith kline, apple and others. the companies have really poured out resources to help haiti. >> how proactive are you in tempting ceos, cfos to do exactly what they are doing at the moment? what do you say to them about how that money will be funneled in a practical way to make sure it makes the maximum difference on the ground? >> we are recommending companies let the first responders do their job. companies, especially large companies have good relationships with nonprofits that are operating on the grund. we are recommending the companies work wit
CNBC
Jan 20, 2010 4:00pm EST
coeur d'alene. and how about the bank stocks, bottom line on bank of america, although the number came in a little bit below expectations, 60 cent, the credit trends are clearly improving a little bit. that's what's important here. we also of course had wells fargo. their numbers beat expectations but still got a lot of real estate problems out there from the old wachovia deals. how about the hmos here, yes, certainly any kind of confusion on the health care reform issue probably would benefit hmos, but in the general market, weakness after a couple of nice moves to the upside, they ended up close to the lows for the day. maria, back to you. >> bob, thanks very much. meanwhile, technology took a beating today despite ibm's strong earnings report. scott wapner manning the nymex for us. ibm set the tone, didn't it, scott. >> reporter: absolutely, maria. selling on the news is what we're seeing again. take a look at intel, for example, that stock had much better than expected earnings. the stock sold on the news. ibm, pretty good earnings as well. stock sold on the news. take a look at wh
CNBC
Jan 14, 2010 4:00pm EST
corporate america is responding to the crisis in haiti. we're also waiting on intel's fourth quarter earnings report, which may very well set the tone for tomorrow's trading session. cnbc's silicon valley bureau chief jim goldman right new on the outlook for intel. jim? >> reporter: maria, 30 cents a share, $10.2 billion. that's the expectation that wall street is looking for when intel reports in justa i few minutes from now, but wow, are investors looking for something good. bidding these shares up by better than 2% today. and look at the volume on this company. well over 100 million shares traded. average day for these guy, 60 million. it's all going to come down with guidance and what they're looking for as far as q1 and q2 are concerned. those numbers, eminent, but ten minutes away. maria, back to you. >> jim with the latest there. a day on wall street today and a pretty good day as far as the markets are concerned. the dow jones industrial average finishing up about 30 points. it was off of the best levels of the afternoon. you had financials and technology stocks really leadin
CNBC
Jan 11, 2010 4:00pm EST
the s.e.c. says it plans to file new charges against bank of america as the two plan to go to trial on march 1st over bank of america bonuses. s.e.c. says basically, you know what, bank of america should have revealed the merrill loss es. to bank of america before that deal was finalized. bank of america not impacted with that news. finishing with a gain of just over 1%. highlighting campaign manager comments coming out of the jpmorgan health care conference. coming from the ceo jamie dimon. a number of things, including compensation on wall street, that -- saying that there is no question the compensation was excessive and exacerbated. mr. dimond also said no company is too big to fail and of course need a major overhaul of the financial regulatory system. something that he's been saying for quite some time. we're watching jpmorgan because it reports its earnings on friday as well. >> thanks very much, mary thompson. break down the trading action that we've been seeing in this session. joining me with a look of what is another business day is executive vice president and chief investm
CNBC
Jan 26, 2010 4:00pm EST
happening now. america's most dependable 3g network. bringing you the first and only wireless 4g network. right now get a free 3g/4g device for your laptop. sprint. the now network. deaf, hard-of-hearing and people with speech disabilities access www.sprintrelay.com. in the north of england to my new job at the refinery in the south. i'll never forget. it used one tank of petrol and i had to refill it twice with oil. a new car today has 95% lower emissions than in 1970. exxonmobil is working to improve cars, liners of tires, plastics which are lighter and advanced hydrogen technologies that could increase fuel efficiency by up to 80%. >>> time for one last check on some of the key after hours movers. interesting surprises. matt nesto has the latest. >> check out gilead. looks to be 2% higher. record fourth quarteand full year for 2009. 93 cents a share comfortably above 85 cent estimate. that stock is moving sharply higher in the after hours, erasing a loss in the regular session getting back to where they go. product sales up 30% which is key and revenues up 42% to a better than expecte
CNBC
Jan 5, 2010 4:00pm EST
america up 3%. keycorp moved up and these stocks helped hold the market together. >> let's break it down. we have richard sparks and antonio dwyer with ftn capital markets. gentlemen, thanks for your time today. one of the most used phrased, overused phrases of 2010 seems to be cautiously optimistic or guardedly optimistic. i'm wondering which camp you fall into more guarded or more optimi optimistic. richard, what about you? >> we are more optimistic. because a lot of others are so guarded. we see the skepticism in the market as evidence there has not been a lot of wholesale buy-in to this rally. it has been significant in terms of duration. we think there is money on the sideline to fuel this market higher in 2010. we see it going up. >> do you agree, tony? >> we do. anybody watching this show and listening to the other guys, the investors' intelligence, the newsletter writers have showed a 20-year low in the bearish percentage of newsletter writers. out of a major bear market low, that is a normal occurrence. in other words when you go back to june and july of '03 it was the same
CNBC
Jan 8, 2010 4:00pm EST
was in the last quarter -- in the last few quarters for these companies. bank of america also weaker although having a very, very strong week, up just about 13% in the first week of trade. industrials were the standout as a mentioned thanks to u.p.s. after it raised its estimates for the fourth quarter. that gave a lift to its rival, federal express. general electric, the parent of cnbc, up for the second day in a row after some positive analyst comments, ge up 10% in the first week of trading in 2010 as well. of course, u.p.s. and federal express contributing to the huge gains we've seen in the dow transportation average. up 86 points and saw strength in the railroads today, they contributed to that. did see weakness in some of the consumer stocks, notably coca-cola after jpmorgan cut its rating on the soft drink giant because of concerns that it won't -- its stock doesn't have much higher today given the 18% premium by coca-cola. came under pressure after the electronics retailer said its same-store sales for the month of december was strong, nevertheless, did not raise its earning
CNBC
Jan 29, 2010 4:00pm EST
now are in the united states, canada, north america and in asia. so both of those areas present a lot of very interesting opportunities. >> and when you're looking -- when you're on the ground in asia, where do you see the most vibrancy? we talk about china so much and some people question whether or not we can believe those number, 10.7 economic growth. is that what you are seeing when you are on the ground in china and is asia that you are looking. >> there are many places in asia. i think that's a limited approach. for example, we like india a lot. we've owned -- we own approximately eight companies now and right you in the middle buying two more. the indian growth story is really, really strong. china, of course, is really sort of on fire now. it's strong but it's got a lot of stimulus that's creating that strength but people are very aggressive, intelligent and it's clear that the leadership of the country is going to try and keep that growth rate at least in the 8% to 10% year-end. >> reporter: you say that the leverage is increasing. you can talk to us about the structure about
CNBC
Jan 27, 2010 4:00pm EST
of america's auto industry and then on into silicon valley. our steve liesman in our capital covering the contentious hearings surrounding timothy geithner's role in the aig bailout. we've got jim goldman in san francisco with the latest of apple's highly anticipated tablet. we've got our own phil lebeau in park ridge, illinois, following the latest developments following toyota's massive vehicle recall, that's a huge story. and hampton pearson is in washington with the details behind today's fed announcement. bob pisani's at the new york stock exchange tracking today's big movers. wow be we've got off. basis covered. but first, treasury secretary tim geithner under fire today on capitol hill, while testifying on how aig and the -- and on aig and the bailpourpts cnbc senior economics reporter steve liesman is in washington with the details. steve? >> reporter: thanks, melissa. what's clear is that artillery shales were flying at hearings today. less clear is whether any of them landed on their mark, tim geithner. were lambasted today by congressman for bailing out goldman sac
CNBC
Jan 28, 2010 4:00pm EST
america. so there are a lot of areas of growth in the overall auto market. >> reporter: but competitors are pretty significant. competitors coming out of china in addition to japan. how serious are those competitors? coming out with smaller cars that people are buying. >> they are serious. every time you have a large market developing it brings with it a -- it's own car manufacturer so i would not be surprised to see in the next ten years the emergence of a global powerhouse from china. one or two global. or one from india. so far we didn't see it, so far we didn't see it so competition is mainly between the globalmakers in china and in india. but it's, you know, we're expecting this to happen. so far we haven't seen it. >> reporter: and the state of the union address, president obama really put jobs on the front burner now because the american people are saying that's what we want you to focus on. >> exactly. >> reporter: mr. president. so what kind of incentives might be available or would you like to see as a businessperson out of governments around the world to actually
CNBC
Jan 22, 2010 4:00pm EST
? >>> plus, is america facing a serious economic crisis. >> a new survey, do americans really believe that government can get us out of economic downturn? you'll be interested in this. ♪ at the end of the day in sitka, alaska, everyone awaits the return of the fishing boats. ♪ their safe arrival is highly anticipated, ♪ as is something else. a shipment of natural sea salt from cargill, essential for preserving the catch. we deliver the salt on precise schedules... and ship it efficiently all along the alaskan coast; saving the fishermen money, and their catch. this is how cargill works with customers. >>> welcome back. we already know that washington is outraged by big financial companies, including some that showed federal bailout dollars paying big bonuses. president obama going so far to say that some bonuses are "obscene." is main street just as upset or is the administration fueling the flames? the mayor of athens, ohio, says that the people there don't like payouts, but he doesn't think they're outraged. mostly, because million-dollar bonuses don't mean much to people who
CNBC
Jan 12, 2010 4:00pm EST
mostly weaker. bank of america being sued by the s.e.c. the obama administration considering a tax on some of the big banks. i don't need to tell you what the result was on those stocks. citigroup, bank of america, j.p. morgan chase and wells fargo under pressure. the market seemed to come off lows around the lunch hour. aetna reaffirmed the '09 forecast but sees 2010 eps modestly lower than 2009. the market seemed to take a leg lower. kb home slid today. it wouldn't make any money in the first quarter. the hartford is to the upside. it had a pretty good day as it raised its outlook. tiffany this san interesting story, a good story. global holiday sales up 17%. raise the outlook. as you see from looking at your screen, the stock was down. part of the reason could be tiffany has been performing well. the stock has been up more than 100%. >> fantastic performer. you are right. thanks, scott. >>> the weak start to earnings season being felt at the nasdaq with the index having the worst day in seven weeks. matt nesto is manning the market site at times square. >> it is interesting because
CNBC
Jan 19, 2010 4:00pm EST
happening now. america's most dependable 3g network. bringing you the first and only wireless 4g network. right now get a free 3g/4g device for your laptop. sprint. the now network. deaf, hard-of-hearing and people with speech disabilities access www.sprintrelay.com. >>> let's take a look at the other business headlines on this takeover tuesday. four month hostile battle between kraft and cadbury comes to an end. $19.5 billion in cash and stock after kraft agreed to inject more cash and less stock. it is unlikely hershey will step up and make an offer. tyco international is buying broadview security for $1.9 billion. the deal previously known as brinks home security $42.50 a share, 39% premium. tyco plans to combine broadview with adt. met life is in final discussions to acquire aig's alico unit. they would pay $15 billion for that business. federal reserve chairman ben bernanke is asking the government accountability office for a full review of the bailout of aig. coming up, we hear from one former fed official who says this is bernanke's way of calling for an audit but under hi
CNBC
Jan 7, 2010 4:00pm EST
upgrades today. be that, ge, bank of america and the retailers also. employment report critical tomorrow. "closing bell" continues. [ closing bell ringing ] >>> and it is 4:00 on wall street. 1:00 p.m. here in las vegas. do you know where your money is? hi, everybody. welcome back to the "closing bell." i'm maria bartiromo. today, come to you live from the consumer electronics show in las vegas. coming up in the hour, we'll continue our look at the hottest trends at one of the most important technology trade shows in the country. plus, from an investment standpoint, tech has been leading the way. we'll talk to some of the industry's most innovative minds. dreamworks animation ceo jeffrey katzenberg among them. he'll give us his vision for 3-d entertainment. he was with us last year and he predicted it would be the hot trend. plus, pure digital technology ceo jonathan kaplan with me giving us an inside look at the future of sharing home videos. all of that a head on "closing bell." >>> a look at the day on wall street. we had further buying once again. we saw a seesaw improvement but stoc
CNBC
Jan 4, 2010 4:00pm EST
. >>> a new day for bank of america. new ceo brian moynihan speaking for the first time since take over the job. we'll tell you what he is saying and what his plans are for the nation's biggest bank. [ male announcer ] welcome to the now network. frannie, matt and james just got three of sprint's best 3g phones. frannie has the palm pre, which runs multiple apps at the same time. frannie! oh! [ male announcer ] james, the jet-setter, can call from just about anywhere in the world with the international tour. and matt has the customizable htc hero with google -- giving him access to thousands of apps. [ tires screech ] bringing you the first and only wireless 4g network, as well as the most impressive lineup of phones. sprint. the now network. deaf, hard-of-hearing and people with speech disabilities access www.sprintrelay.com. >>> the new head of bank of america making his first official address as ceo today, north carolina. cnbc's mary thompson is there with more on brian moynihan's first public appearance. mary? >> reporter: amanda, moynihan delivered a cautious outlook during a
CNBC
Jan 21, 2010 4:00pm EST
in that respect what we talked about earlier in terms of pricing recovery, coming in north america, it's critical for the company and the stock. >> we've got the revenue out right now on google just crossing the wire, $6.67 billion in revenue. that compares to an estimate of $4.92 billion in revenue. we are waiting on the profitability numbers. $6.48 a share is the estimate on earnings per share on revenue -- here we go. $4.95 billion in revenue is the number. $4.95 billion in revenue versus estimate of $4.92 billion. and the earnings -- the nongap eps is $6.79 a share. $6.79 a share versus $6.48 a share profit. david, your initial reaction to these numbers? on the street will be happy respect to the hevnew number. obviously, we haven't seen the number yet in terms of what their cost per click or pricing action was doing in the quarter. that's going to be the important thing that comes out of conference call that starts at 4:30. >> let's get on jim goldman here. jim, we've got numbers here on a per share basis, $6.79 a share versus estimate of $6.78 on revenue of $4.95 billion. wha
CNBC
Jan 13, 2010 4:00pm EST
. >>> america's top banking executives facing music on capitol hill today about their roles in the recent financial crisis and their company's roles, more importantly. issues, such as bank bonuses, still making waves on wall street and main street alike. up next find out what some experts are saying what needs to be done in terms of incentives and the hot-button issues specifically of compensation. >>> plus the worst earthquake in more than 200 years in haiti. we've got the latest development nmts wake of that major disaster in the caribbean nation. stay with us on that. >>> later on, my one on one with billionaire investor sam zell, coming at nus a few moments. find out what he says about the real estate recovery, what's possible later on this year. he's coming up. >>> welcome back, as wall street gets state pay out new record bonuses for 2009, representative barney frank will hold a hearing on pay at financial firms. mary thompson now with the story. >> reporter: maria, calling compensation in the financial industry, a legitimate concern for the economy, the chairman of the house financ
CNBC
Jan 15, 2010 4:00pm EST
some of these other names. bank of america a big lose or the name, down 3%. citigroup, capital one also losing on the day, talking about charge-offs and how they are continuing to rise. i did mention off of the top, however how commodity stocks were weaker today. yes the dollar was higher. oil was lower. gold stocks were lower today. all of the subsequent stocks relating to commodities for the most part to the downside. you had energy names and metal names also to the downside today. chips, mostly lower. intel had blowout numbers. what can you say, gross margins hit a record there, but it was classic sell on the news. and intel stock yesterday hit a fresh new 52-week high as well. so that just lends itself to the reason why, perhaps, we saw some profit-taking across the technology space today. texas instruments, terradyne and micron, also to the downside. take a look at some of the fertilizer names as well. it was interesting day there, as cf terminated its offer for terra, cf rosa. and agrium for cf. potash, the stock finished looks to be a fractional loser there. and office suppl
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